Topic: DigixDao brigns profit. What do you think of this coin? (Read 242 times)

All coins but Stablecoins.

The price movements of Stablecoins don't follow the price movements of Bitcoin.
Stablecoins are not designed to follow demand and offer of them, but to follow demand and offer of what they are pegged to.

Price movements of a gold-backed stablecoin will follow price movements of gold.
Price movements of a $-backed stablecoin will follow price movements of $.
Etc.

Each DGD represent 1g of gold.
It's price is the price of 1g of gold.
No manipulation is possible.
This is the cool of gold-backed stablecoins.

1) If whales come in and buy DGDs, they have to wait for the company to acquire and vault more gold to create more DGDs.
The price of 1 DGD is designed to represent the price of 1g of gold.

2) As soon as the price of 1 DGD > price of 1g of gold, DGD owners redeem (sell) their DGDs for gold,
buy gold on the open market,
wait for the price of 1 DGD to align again to the price of 1g of gold,
convert it again in DGDs.
This speculation game guarantees that the price of 1 DGD = price of 1g of gold

This speculation is only possible with those gold-backed stablecoins which allow the redemption of their coins for the metal.

That is the reason why the redemption for physical is one of the first features to look at in order to judge a gold-backed stablecoin project

What you describe here, we call it manipulation (which is illegal, btw)
So, you are saying that cryptos' markets are at large manipulated, price movements - at large - are decided by those entities which you call whales.
If it were true, neither people nor institutions should invest in cryptos. Only gamblers, if they want 

Plus, that would explain why cryptos are at large not yet accepted as a currency.
A manipulated currency is a bad currency for everyday's life.

Personally, i have lived to believe that the only technical analysis i should rely on is the movement of Bitcoin. When Bitcoin makes a move, all coins follow up and because I trust Bitcoin so much, i also believe every other ALT has an opportunity so yeah DGD can really make. But we gotta wait for Bitcoin to make a major significant move first.

It depends on the real life use of the coin because whales don't just go to the market checking projects out that they can invest their money in, what they actually do is to select any of the top 100 coins in the market and pump a lot of money into that coin so that there will be a sporadic increase in the price of the coin, then they dump the coin once it has gotten to a particular level, so the chance of whales coming to this project is low.

Now it can definitely 10x. Who bought all the DGD during the bear, such a low supply means explosive mark up when the whales are ready.

Today I would like to hear thoughts of experienced traders on DigixDao? What do you think of this coin? Do you trade it or keep in your crypto portfolio?

Meanwhile, I would like to share my experience of trading DigixDao during recent continuous correction.

I have my own strategy of trading. I have two types of crypto assets: primary and secondary. In ordinary days, when the market is still, I am trading my primary assets but when comes the time of correction, I just stop trading, until the price of the coins returns to its average indicators. If this market situation lasts at least two days and the majority of the coins dumps significantly, I get my secondary assets involved. Especially for these occasions, I prepare my additional funds, which I keep either on my credit card or in USDT (Tether).

When the market experiences a huge correction, I try to find some interesting coins that dumped the most. Usually, I pick 1-2 coins from the top-10, if they have a very favorable price and 1-2 coins from the top-100 that have the highest decrease rates.

But recently I literally “fell in love” with DigixDao (DGD). It is a cryptocurrency backed by real gold stored at the warehouse in Singapore and has high demand while having a small amount of token supply (only 2 million DGD). Most of the traders try to avoid this coin because it has different from others nature and its circulation terms are not clearly understandable.

But for me, DGD represents everything that a valuable and strong currency has to be. It endorses a real and tangible asset and develops its own way. Despite other cryptocurrencies which are very dependable on Bitcoin and its behavior, DGD is more independent. And often, when Bitcoin falls and drags altcoins with it, DGD is showing growth. As an example, we can take the current market’s fall, during which almost no coin could turn back to its average price, whereas DGD did it almost thrice.

I noticed DigixDao at the beginning of February and witnessed how it from 216$ reached 560$ by the end of the month. High volatility of this coin definitely captured my attention. During the period of time, when I was following its changes, I defined DGD’s average price around 400$-440$ and decided to stick to that.

Thus, when the market hit the bottom for the first time I without any hesitations bought a couple of DGD for 300$ and sold them in a day for 375$, thus, making ~ 26% profit.

On 12 March the price of the DGD fell again and I bought it for 323$ and sold in three days for 400$, receiving 23% of profit.

And the last purchase of DGD I made 3-4 days ago. I bought several DGD for 295$ and sold it yesterday for 350$, making ~ 18% of profit.

Thus, during this continuous correction period I managed to increase my secondary assets by 67%. This income can cover possible losses of my primary assets, if some of the coins that invested in, won’t reach their average prices.

That’s the way I was trading during this huge market’s dump. And now DigixDao is one of my favorite promising coins in my trading strategy.

What do you think of DGD? Can it make x3-x10 this year?